Good news for condo investors, bad news for renters: Condo investors are poised to do well by renting out their units as the rental market tightens in downtown Chicago, according to the latest forecast from housing analyst Appraisal Research Counselors.
Vice-president Gail Lissner says the market is tight because of the combined effects of job growth, a depleted supply of rental buildings because of the frenzied condo conversion acitivity last year, and a minimal number of new-construction apartment buildings on the market.
Yo wants to hear from anyone whose rent has increased, or who has an investment unit and is increasing the rent this time around.
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